TaxTMI 
TaxTMI 
2025 (6) TMI 242
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.... to all just exceptions. 2. The applications are disposed of. ITA 163/2025 ITA 164/2025 ITA 165/2025 ITA 166/2025 ITA 167/2025 ITA 168/2025 ITA 169/2025 ITA 172/2025 3. Issue notice. 4. The learned counsel appearing for the Revenue accepts notice. 5. The appellants have filed the present appeal under Section 260A of the Income Tax Act, 1961 [the Act] impugning common orders dated 15.01.2025 [impugned order] passed by the Income Tax Appellate Tribunal [ITAT], which dealt with a set of eight appeals. The said appeals were preferred by the two Assessees in respect of four assessment years [AYs] being 2014-15 to 2018-19. A tabular statement setting out the relevant details of the appeals and the additions sustained by the learned ITAT are set out below: Matter Particulars ITA Nos. Assessment Years Additions sustained by ITAT Shri Sai Om Infravision Pvt. Ltd. vs. DCIT, Central Circle-03, New Delhi 166/2025 2014-15 Rs. 15,00,000 168/2025 2015-16 Rs. 50,00,000 167/2025 2017-18 Rs. 16,00,000/- 172/2025 2018-19 Rs. 5,00,000 Shri Om Sai Infrapromoters Pvt. Ltd. vs. DCIT, Central Circle-03, New....
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....ectification order dated 22.04.2015 passed under Section 154 of the Act. 9. As noted above, search and seizure proceedings under Section 132 of the Act were conducted in the case of Shri Ravinder Singh Tongar Group on 18.09.2018. The Assessee was also covered under the said search operations. Thereafter, the re-assessments were centralised under the charge of the Principal Commissioner of Income Tax, Dehradun in terms of an order dated 12.07.2019 passed under Section 127 of the Act. The said Assessee filed its return of income on 30.08.2020, pursuant to the notice issued under Section 153A of the Act. 10. During the course of the investigation and the assessment proceedings, it was found that one Shri Ravinder Singh Tongar had made an unexplained investment of Rs. 14.64 crores in the said two Assessees - M/s Shri Om Sai Infra Promoters Pvt. Ltd. and Shri Sai Om Infravision Pvt. Ltd. These companies own three plots of land in Dehradun. As noted above, during the search proceedings, handwritten diaries were recovered from the premises of Kaushalya Residency Girls Hostel, GNHIPL. The AO found that the said diaries mentioned receipts of investments, which were not disclosed. The ....
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.... the following notings are neither reflected in the accounts of the appellant or of the Om Sai Infrapromoters Pvt. Ltd. Date Particulars Amount of Booking (in Cr.) Mode of Payment Name of the company in which amount was received Remarks of the undersigned CIT(A) Date Particulars Amount of Booking (in Cr.) Mode of Payment Name of the company in which amount was received Remarks of the undersigned CIT(A) 27.03.2014 Booking of Flat 0.3 Cash -do- The addition is made by the AO 05.07.2014 Booking of Flat 1 Cash -do- The addition is made by the AO in the AY 2015-16 29.03.2017 Booking of Flat 0.32 Cash -do- The addition is made by the AO for AY 2017-18 20.04.2017 Booking of Flat 0.1 Cash -do- The addition is made by the AO for AY 2018-19 Total 1.72 55. The appellant and M/s Om Sai Infrapromoters Pvt. Ltd. were equal partners in the project being undertaken at Dehradun. Therefore, the unaccounted income is equally distributed between the two companies. 56. The year-wise breakup of the undisclosed business income on the basis of the notings in the d....
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....nue. 4. Whether on the facts and circumstances of the case and in law the Hon'ble ITAT has erred in not taking into consideration in the absence of any incriminating material brought on record, no additions could be made to assessments, on the date of the search which stood concluded as. 5. Whether on the facts & circumstances of the case and in law, the Hon'ble ITAT has erred in sustaining addition amounting to Rs. 15,00,000/- under section 69A of the Income Tax Act, 1961 ("the Act"). 6. Whether on the facts and circumstances of the case and in law, recourse of deeming provisions of section 69A of the Act could have been undertaken as the additions have been made solely on the basis of seized diary notings not forming part of books of accounts." 15. Mr Chawla earnestly contented that the learned ITAT had erred in passing the impugned order, without considering that the diaries seized could not be construed as books of accounts and thus, no addition under Section 69A of the Act could be sustained on the basis of the entries in the said diaries. He also contended that the said diaries could not form the basis of any assessment without corroborative ....
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...., did not - for obvious reasons - find mention in the formal books of accounts, which were maintained using the accounting software, 'tally'. Thus, the fundamental premise on which the contentions advanced on behalf of the Assessee are founded - that the addition has been made on the basis of random documents on a standalone basis - fails to take into account the exercise conducted by the Income Tax Authorities in unearthing the unexplained receipts. There is also no absolute proposition that diaries found cannot be construed as books of accounts. If accounts are maintained in a diary, even though the accounts may be partial, the same, in given circumstances may qualify as books of accounts. 19. We also consider it apposite to refer to the definition of 'books or books of account' under Section 2 (12A) of the Act, and 'books and papers', the same is set out below: "2 (12A) "books or books of account" includes ledgers, day-books, cash books, account-books and other books, whether kept in the written form or as print-outs of data stored in a floppy, disc, tape or any other form of electro-magnetic data storage device." 20. It is apparent from the plain language of Sect....